$1,437,500
$1,545,000
7.0%For more information regarding the value of a property, please contact us for a free consultation.
6,375 SqFt
SOLD DATE : 10/07/2022
Key Details
Sold Price $1,437,500
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 6,375 sqft
Price per Sqft $225
MLS Listing ID SB22124162
Sold Date 10/07/22
HOA Y/N No
Lot Size 0.261 Acres
Acres 0.2606
Property Description
528 N Fries Ave is a well-positioned industrial-use property in Wilmington. Built in 1978, the existing 6,375 SF warehouse sits on a large 11,351 SF lot and features an upstairs office, breakroom, and bathroom. The building zoning was recently changed. Per the city, industrial use is grandfathered in (buyer to verify). With the new zoning, a buyer will also have the development potential to build up to 15 units.
Currently with a 4.80% market cap, this property is a unique opportunity for an investor to enter the industrial space or expand their portfolio in a hot market.
Location
State CA
County Los Angeles
Area 195 - West Wilmington
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Heating None
Cooling None
Fireplace No
Laundry None
Exterior
Fence Block
Utilities Available Water Available
Total Parking Spaces 10
Building
Lot Description 0-1 Unit/Acre
Water Public
Others
Tax ID 7418004017
Acceptable Financing Cash to New Loan
Listing Terms Cash to New Loan
Financing Conventional
Special Listing Condition Standard
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Bought with Jay Lim • Good Hand Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
Scott Greenspan
Broker Owner